Wednesday, April 3, 2024

DELL Laptops And HONDA Two Wheelers Secures Top Spots For 5th Year As India's Most Trusted Brand: TRA's Brand Trust Report 2024

TRA's Brand Trust Report (BTR) 2024 which lists India’s 1000 Most Trusted Brands every year, unveiled DELL Laptops unwavering at first place, maintaining its status as India’s Most Trusted Brand for the fifth consecutive year. This year’s study, gathering insights from 2,500+ consumer-influencers across 16 cities, highlights HONDA Two Wheelers made an unprecedented leap to second rank from rank 30, the most significant positive change among the top ten brands. There were 33 Super Categories and 323 Categories listed in the report. TRA measures the Consumer Buying Intention through its proprietary matrices of Brand Trust and Brand Desire and has conducted 90,000+ respondent interviews over the last 13 years.

AMAZON, the omnipresent Online Retailer ranked third in BTR 2024, up 3 places, continuing to solidify its dominance in online retail. TITAN Watches at ranked fourth, with a slight drop of one place, yet with robust trust quotient among consumers. SONY (Televisions), had a remarkable rise of 16 ranks, at fifth position, indicating a significant boost in consumer confidence.

XIAOMI is sixth ranked and leading in the Mobile Phones category though has slipped 4 places from last year. BATA (Footwear - Retail), placed seventh, down 2 places, and NIKE (Footwear - Sports), climbing 14 places to eighth rank, showcasing the dynamic shifts within the personal accessories sector.

LIC (Life Insurance - PSU), ranked at nineth, and SAMSUNG (Televisions), at the tenth position, have seen drops of 2 and raise by 7 places respectively, yet their presence in the top ten underscores a broad spectrum of trust across various categories, from BFSI to consumer electronics.

N. Chandramouli, CEO, TRA Research said, “In 2024, 316 brands improved their Brand Trust rankings, while 358 brands saw their rankings decline compared to the previous report. The FMCG Super-Category led with 167 brands, followed by Food & Beverage with 151, Consumer Electronics with 81, and Automobile with 76 brands each. The brands that have risen in the rankings have done so by embracing transparent, authentic communication strategies to enhance consumer engagement and trust. They've understood that trust is not static but dynamically influenced by every interaction and touchpoint a consumer has with the brand. Trust is built and maintained through consistent, positive, and genuine communication efforts. As technology evolves, so too must our approaches to fostering and sustaining trust, ensuring that all physical and digital touchpoints integrated with the timeless principles of trust that drive consumer confidence and brand loyalty.”

There are 323 Categories from 33 Super-Categories listed in the report. Some other Category leaders include Aachi (Spices), AO Smith (Water Heaters), Allen Solly (Formalwear), ACC Cement (Cement), Amex (Credit Cards), AMD (Semiconductors), Aviva (Life Insurance – Private), Blue Dart (Express Services – Domestic), boAt (Smart Wearables), Canon (Cameras), CEAT (Tyres), Chai Point (QSR – Tea), Citibank (Bank – Foreign), Dr. Agarwals (Eye Hospitals), Ducati (Two Wheeler – Luxury), Giny & Jony (Kidswear), Gowardhan (Paneer), HDFC (Home Finance), Jeep (SUV - Manufacturer), LG (Microwaves & Refrigerators), Mahindra Scorpio (SUV – Brand), Medimix (Soaps – Ayurvedic), Muthoot Finance (Financial Services), Nataraj (Pencils), Nivea (Skincare), Patanjali Dant Kanti (Toothpaste - Ayurvedic), PhonePe (Digital Payments), Raymond Made to Measure (Tailored Menswear), Singer (Sewing Machines), StayFree (Personal Hygiene Products), Trek (Bicycles - Sports), TTK Prestige (Pressure Cookers), Vestige (Direct Selling), Voltas (Air Conditioners), and Wagh Bakri (Tea).

About TRA

TRA, a leading consumer insights and brand analytics firm that measures Consumer Buying Intention through its proprietary Brand Trust and Brand Desire matrices. The company has been at the forefront of conducting innovative syndicated research with consumer-influencers for over a decade. TRA offers valuable Consumer Buying Intention data to brands, empowering them to adopt a more customer-centric approach in their branding and marketing strategies. As the publisher of TRA's Brand Trust Report and TRA’s Most Desired Brands, TRA continues to provide crucial insights for businesses seeking to thrive in today's competitive market landscape.

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